MAP: Here Are All Of The Big Chinese Investments In Africa Since 2010http://www.businessinsider.com/map-chinese-investments-in-africa-2012-8/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Tue, 31 Mar 2015 17:15:09 -0400Mamta Badkarhttp://www.businessinsider.com/c/502b4cdceab8ea7874000007Wole KingWed, 15 Aug 2012 03:16:44 -0400http://www.businessinsider.com/c/502b4cdceab8ea7874000007
Well, the Africans subconsciously gravitate towards a country that has no history of slave trading, colonialism or imperialism. Africans are aware that they are regarded as cannon fodder or booty by Western Countries, they know it is in their best interest to deal with China whose terms are more fair, who come across more as a partner than some Roman conqueror and who seems genuinely more interested in advancing their host Country than the Western nations can boast of.
Western nations also have a track record of betraying their African stooges when it soothes them re: Mobutu and Ghaddafi et al. so most potential African despots are wary of casting their lots with a fickle partner such as the West. Providence is conspiring to favour the Chinese undertaking. While the West cries fowl, Africans snigger at their discomfort knowing fully well that only unadulterated self interest so cries...http://www.businessinsider.com/c/502a501eecad040a16000003ErikTue, 14 Aug 2012 09:18:22 -0400http://www.businessinsider.com/c/502a501eecad040a16000003
Hey, at least the Chinese didn't bomb the most developed country in Africa, Libya, and destroy it. Libya was a secular country that shared its oil wealth with its own citizens. There was complete freedom of religion--ask the Catholic Archbishop of Libya. America's main investment in Africa is Africom so that they can control the place militarily. I would also agree that it is the pot calling the kettle black--except pure investment/exploitation is a lot difference than bombing and military action (Sudan etc for the U.S.).
Any reasonable African leader, whether corrupt or not, can see what happened to Gaddafi when he decided to make nice with the west....remember all those visits from Sarkozy et al. He was betrayed, his country ruined and he himself was bombed and murdered while in a convoy carrying white flags (see Wayne Madsen Report). After that, only the dumbest of the dumb African leader would reject Chinese investments over American contact.http://www.businessinsider.com/c/5029a9816bb3f7381400000dvox3nonMon, 13 Aug 2012 21:27:29 -0400http://www.businessinsider.com/c/5029a9816bb3f7381400000d
@U Ganda
Is the US the pot calling the kettle black much? Or in the words of Shakespeare, "methinks the lady doth protest too much". Let's not fool ourselves, every major nation that wants in on Africa is after its resources - be it the US, EU or China. After looking through the pages of history, it would either be the height of naivety or jingoism to think otherwise.http://www.businessinsider.com/c/50292721ecad042b78000002kwsompimpongMon, 13 Aug 2012 12:11:13 -0400http://www.businessinsider.com/c/50292721ecad042b78000002
Don't forget about Nigeria. The country shifted 10% of its fx reserves from USD to renminbi last year: <a href="http://www.youtube.com/watch?v=tikLDsOJegE" target="_blank">http://www.youtube.com/watch?v=tikLDsOJegE</a>http://www.businessinsider.com/c/50292481ecad04ac71000008Mr. HeadMon, 13 Aug 2012 12:00:01 -0400http://www.businessinsider.com/c/50292481ecad04ac71000008
This is nothing compared to to this from ZeroHedge....They ARE DUMPING THE U.S. CURRENCY TOO.....do ya think China is helping here, making the U.S. Irrelevant? Thanks Liberals/Obama:
As it turns out, this too is rapidly changing: as the WSJ reports, Africa is increasingly just saying "nein" to the USD. "African countries are trying to shoo the U.S. dollar away, even if it means threatening to throw people who use greenbacks in jail. Starting next year, Angola will require oil and gas companies to pay tax revenue and local contracts in kwanza, its currency, rather than dollars. Mozambique wants companies to exchange half of their export earnings for meticais, hoping to pull more of the wealth in vast coal and natural-gas deposits into the domestic economy. And Ghana is seeking similar ways to reinforce "the primacy of the domestic currency," after the cedi plummeted more than 17% against the dollar in the first six months of this year. The sternest steps come from Zambia, a copper-rich country in southern Africa where the central bank has banned dollar-denominated transactions. Offenders who are "quoting, paying or demanding to be paid or receiving foreign currency" can face a maximum 10 years in prison, the central bank said in a two-page directive in May." Is it time to dump the EUR in hopes of a short covering rally that continues to be elusive (just as Germany wants) and buy Zambian Kwachas instead? We will wait for Tom Stolper to advise Goldman clients to sell the Zambian currency first, but at this rate the USDZMK may well be the most profitable currency pair of the next 3-6 months.